Payments players react to debit cap cut
Payments Dive
OCTOBER 31, 2023
The CEOs of Mastercard and Global Payments chimed in with opposing views of the Federal Reserve Board’s proposal to lower the cap on debit interchange.
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Fed to review debit card fee cap next week
Payments Dive
OCTOBER 20, 2023
The Fed hasn’t changed a debit card fee cap since it was put in place in 2011, but it's planning to take up the issue at a meeting next week.
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New Jersey enacts law capping surcharges
Payments Dive
AUGUST 23, 2023
New Jersey’s governor signed a new law capping credit card surcharges, limiting the amount merchants can charge for processing a transaction.
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Mastercard and Visa extend cap on inter-regional fees for tourist cards in EU
Finextra
JULY 7, 2024
Visa and Mastercard have committed to keep a cap on tourist card fees in place for another five years, says the European Commission.
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New Study: 2018 State of Embedded Analytics Report
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Why do some embedded analytics projects succeed while others fail? We surveyed 500+ application teams embedding analytics to find out which analytics features actually move the needle. Read the 6th annual State of Embedded Analytics Report to discover new best practices. Brought to you by Logi Analytics.
UK payments watchdog proposes cap on interchange fees
Finextra
DECEMBER 13, 2023
The Payment Systems Regulator is propsing to cap cross-border interchange fees on credit and debit cards to protect UK businesses from rising costs.
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Fed proposes reduction in debit fee cap
Payments Dive
OCTOBER 25, 2023
The proposal also calls for periodic updates to the fee cap in the future. The Federal Reserve Board proposed a rule change that would slash the amount card issuers can charge merchants for processing a debit transaction.
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CFPB $8 late fee cap edges toward reality
Payments Dive
APRIL 17, 2024
Despite an industry-backed lawsuit seeking to stop the Consumer Financial Protection Bureau’s new $8 late fee rule, bank card issuers are bracing for potential implementation.
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PayPal, Bread brace for late fee cap
Payments Dive
MAY 1, 2024
Payments and credit card companies are scrambling to soften the blow of an impending $8 cap on credit card late fees.
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Battle ensues over CFPB proposal to cap late fees
Payments Dive
MAY 5, 2023
Supporters and opponents of the CFPB’s proposal to cap late fees at $8 clashed in comments to the agency in recent weeks.
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Examining the PSR’s APP fraud reimbursement cap change
The Payments Association
OCTOBER 14, 2024
The Payment Systems Regulator’s decision to lower the cap for APP fraud reimbursements to £85,000. The Payment Systems Regulator (PSR) recently announced a significant change to the cap for authorised push payment (APP) fraud reimbursements. Cath expresses several criticisms of the proposed changes to the APP fraud reimbursement cap.
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Visa remains cryptic about new surcharge cap
Payments Dive
APRIL 14, 2023
The card giant is set to impose a new surcharge cap of 3% tomorrow, but many payments processing professionals are still searching for details about it.
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Visa, Mastercard reach landmark credit card settlement
Payments Dive
MARCH 26, 2024
card networks agreed to cap interchange fees for five years, among other terms, to settle merchant litigation that has lasted nearly two decades. The two biggest U.S.
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Synchrony, Bread brace for potential late fee cap impact
Payments Dive
MARCH 3, 2023
If a late fee cap is imposed by the Consumer Financial Protection Bureau, the companies may curtail credit and seek other offsets, executives said this week.
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BaFin lifts N26 customer onboarding cap
Finextra
MAY 28, 2024
After more than two years, Germany's financial regulator BaFin has lifted a cap on the number of new customers that digital bank N26 can onboard.
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PSR targets high cross-border interchange fees with proposed price cap
Neopay
DECEMBER 17, 2024
To combat this, the regulator is proposing a price cap to bring relief to businesses and their customers. Proposed Solutions: Capping Fees To address these issues, the PSR has proposed introducing a price cap on cross-border interchange fees, starting with an interim cap while further analysis determines a long-term solution.
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MAS Ends Six-Month Restriction on DBS, Retains Additional Cap Requirement
Fintech News
MAY 1, 2024
” The post MAS Ends Six-Month Restriction on DBS, Retains Additional Cap Requirement appeared first on Fintech Singapore. The multiplier of 1.8 times will be lifted when MAS is satisfied that DBS Bank has demonstrated the ability to maintain service availability and reliability, and handle any disruptions effectively.”
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Wise Singapore Quadruples Daily Holding Limit, Boosts Annual Spending Cap
Fintech News
AUGUST 13, 2024
The post Wise Singapore Quadruples Daily Holding Limit, Boosts Annual Spending Cap appeared first on Fintech Singapore. The total value held in personal and business accounts in Singapore reached approximately £340 million (S$590 million).
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Combatting the Rise of Cross-Border Fees: PSR Proposes Price Cap Consultation
The Fintech Times
DECEMBER 15, 2024
To ensure this doesn’t continue, it has proposed a consultation to price cap remedy to protect firms. We consider that consulting on a range of options for capping prices is the best way forward to ensure UK businesses get a better deal, and as such, we look forward to receiving evidence on these proposals from all interested parties.
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CFPB attacks credit card late fees
Payments Dive
FEBRUARY 1, 2023
The Consumer Financial Protection Bureau proposed a new rule that would effectively cap credit card late fees and potentially save Americans $9 billion.
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Synchrony, Bread plan offsets to late fee cap
Payments Dive
DECEMBER 14, 2023
“I want that shoe to drop so we can start mitigating that issue,” Bread CEO Ralph Andretta said last week, as the industry awaits the CFPB’s final rule.
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Credit card debt tops $1 trillion, before the holidays even arrive
Payments Dive
OCTOBER 3, 2023
Retailers may feel the pinch, especially those whose own store cards are facing rising delinquencies and a potential cap on late fees.
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UK regulator PSR plans cap on cross-border card fees
Finextra
DECEMBER 13, 2024
The Payment Systems Regulator is pushing ahead with plans to introduce a price cap on the fees Visa and Mastercard charge UK merchants when European shoppers make online purchases.
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Visa rattles ISOs with surcharge plan
Payments Dive
APRIL 12, 2023
Payment processors and their merchant clients are bracing for Visa’s surcharge cap next week. “Don’t fight Visa right now – you’re not going to win,” advises one consultant.
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European banks raise concerns over UK’s proposed cap on interchange fees
Neopay
AUGUST 22, 2024
European banks have expressed “serious concerns” regarding the UK Payment Systems Regulator’s (PSR) plan to cap interchange fees on cross-border digital transactions. They warn that the proposed cap could lead to losses on transactions due to the increased costs associated with digital wallets like Apple Pay and Google Pay.
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Southeast Asia Shows Strong Interest in “Degen” Crypto Tokens
Fintech News
MAY 16, 2024
The Philippines has been uncovered to be the leading country in Southeast Asia showcasing overall interest in degen crypto and small cap cryptocurrency tokens, according to an extensive recent update from crypto resource platform CoinGecko. The top 25 most crypto degen countries account for a majority 77.8% of onchain speculation interest.
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Large Caps: What Investors Need to Know About Them
Finextra
AUGUST 6, 2024
The topic of large-cap stock growth remains highly relevant in the market this July, especially with.
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Visa and Mastercard reach $30bn interchange fee settlement with merchants
Finextra
MARCH 26, 2024
After nearly 20 years of litigation, Visa and Mastercard have reached a settlement with US merchants lowering and capping credit card interchange rates in a deal that could save the merchants $30 billion over five years.
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BaFin fines N26 €9.2m over late money laundering reports
Finextra
MAY 21, 2024
million for anti-money laundering failures but could be preparing to lift a cap on the number of new customers the digital bank can take on. German regulator BaFin has fined N26 €9.2
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Visa and Mastercard Sue Costa Rica’s Central Bank Over Fee Caps
The Nilson Report
OCTOBER 7, 2024
The post Visa and Mastercard Sue Costa Rica’s Central Bank Over Fee Caps appeared first on Nilson Report.
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UK payment firms push back on APP fraud refund plan
Finextra
MAY 15, 2024
Payments firms are calling for a rethink of UK plans to protect victims of APP fraud, arguing that a refund cap of £415,000 will hurt smaller providers.
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Visa, Mastercard to Extend Non-EU Card Fee Caps to 2029, EU says
The Nilson Report
AUGUST 5, 2024
The post Visa, Mastercard to Extend Non-EU Card Fee Caps to 2029, EU says appeared first on Nilson Report.
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PSR Provisionally Proposes to Cap Cross-Border Interchange Fees on Credit and Debit Cards to Protect UK Businesses
Fintech Finance
DECEMBER 13, 2023
The PSR is proposing to introduce a price cap to protect UK businesses from overpaying on these interchange fees. Subject to the PSR’s final report and further consultation on remedies, this could happen in two stages: An initial time-limited cap of 0.2% for UK-European Economic Area (EEA) consumer debit transactions and 0.3%
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Cap One could dodge law requiring added processing capacity
Bank Automation
FEBRUARY 23, 2024
Capital One could be excluded from the proposed Credit Card Competition Act of 2023 if its acquisition of Discover Financial Services goes through and the bank creates an in-house processor. Read more on the Capital One, Discover deal The proposed act, introduced in June 2023 by U.S. Richard Durbin, D-Ill, would require credit card […]
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PSR confirms APP scam protection updates and consults on high-value fraud cap
Neopay
SEPTEMBER 11, 2024
Alongside this announcement, the PSR has also published a consultation on high-value APP fraud cases, focusing on reviewing and possibly revising the reimbursement cap for victims of APP scams. The post PSR confirms APP scam protection updates and consults on high-value fraud cap appeared first on Neopay.
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CFPB’s new late fee cap charts ‘a better way,’ says Sunbit CEO
Payments Dive
APRIL 16, 2024
“The credit card industry should take a page from innovators, instead of relying on yesterday’s fee models,” argues the CEO of the payment tools provider.
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Fed extends comment period on debit card fee proposal
Payments Dive
JANUARY 23, 2024
The Federal Reserve extended the time period during which it will accept public comments on its proposal to reduce the cap on debit card fees.
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Payments M&A in 2023 amounts to a whimper
Payments Dive
JANUARY 12, 2024
October’s uptick in activity didn’t continue through the remainder of the year, capping a quiet year for merger and acquisition activity in payments.
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Supreme Court to consider debit fee case
Payments Dive
SEPTEMBER 29, 2023
Supreme Court agreed to hear the petition of a North Dakota merchant group that sued over the Federal Reserve Board’s calculation of a debit fee cap.
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Forgd is Reinventing Web3 Advisory with Free Tools for Tokenomics Design, Liquidity Monitoring, and Token Cap Table Management
Fintech Review
SEPTEMBER 3, 2024
New York, NY, September 3rd, 2024, Chainwire Forgd , a token advisory and optimization platform, announced the launch of its free-to-use web platform, which provides blockchain projects unrestricted access to tools for tokenomics design, liquidity monitoring, cap table management, and financial planning.
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CRS Report: “Unclear Who Would Benefit” from Durbin-Marshall Credit Card Bill
Electronic Payments Coalition
JANUARY 17, 2024
CRS, whose mission is to offer research and analysis to Congress, echoed an earlier report by the Richmond Federal Reserve noting that consumers failed to see any meaningful cost savings as a result of similar legislation imposing routing mandates and price caps on debit card interchange.
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YouTrip Quadruples Wallet Size to S$20K, Spending Limit Now S$100K
Fintech News
JANUARY 2, 2024
YouTrip users can now hold up to S$20,000 in their wallets, a significant jump from the previous S$5,000 limit, and have access to an annual spending limit of S$100,000, previously capped at S$30,000. Now with the enhanced limits, it addresses a key pain point for our users who were previously curtailed by the lower caps.”
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Navigating the future of overdraft fees: Insights for debit card issuers
The Payments Association
JUNE 28, 2024
New regulations will cap overdraft fees, drastically reducing them from around $30 to approximately $3, significantly impacting banks' revenue streams. Read more
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